How they describe themselves: WePay is a payment company built for platform businesses such as online marketplaces, crowdfunding websites, and small business software companies. WePay offers their platform customers complete protection from fraud risk and compliance burdens while delivering the flexibility to create seamless user experiences.
How they describe their product/innovation: Only WePay’s patent-pending risk engine technology, Veda, stitches together a variety of novel data sources to better understand a platform’s users. To fight fraud, Veda combines proprietary data from platforms, data from WePay’s own transactional graph, and social data from sources such as Facebook, Twitter, and Yelp.
Product Distribution Strategy: Direct to Business (B2B), through other fintech companies and platforms